Hafnia Limited (NYSE:HAFN) Stock Short Interest Climbs 218.2%

Hafnia Limited (NYSE:HAFN) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 3,710,731 shares, a growth of 218.2% from the September 15th total of 1,166,186 shares. Based on an average daily volume of 3,525,242 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.7% of the shares of the company are sold short.

More Hafnia News

Here are the key news stories impacting Hafnia this week:

• Positive Sentiment: Wall Street analysts have assigned Hafnia a “Buy” rating, adding to the stock’s positive investor sentiment. Hafnia Limited Stock Rated Buy by Wall Street Analysts
• Positive Sentiment: Hafnia shares are participating in a broader tanker rally as high oil-transport costs and strong shipping demand lift tanker equities and push a global shipping ETF to a record high. Tanker Boom and Shipping Stocks Rally
• Neutral Sentiment: Former Hafnia chief executive Mikael Skov has joined the board of Dee4 Capital Partners. The move is not a direct operating update for Hafnia, but may attract attention because of his industry experience. Mikael Skov Joins Dee4 Capital Partners Board
• Negative Sentiment: Chief Financial Officer Perry van Echtelt sold 50,000 Hafnia shares for approximately $530,000. Although he retains a substantial holding of 563,544 shares and options, the insider sale can create modest near-term selling pressure or raise caution among investors. Hafnia Mandatory Notification of Insider Trade
• Negative Sentiment: Reported short interest increased 218.2%, indicating that bearish bets against HAFN have risen. This could weigh on sentiment, although it also creates potential for short covering if tanker conditions remain strong. Hafnia Short Interest Jumps

Institutional Trading of Hafnia

Institutional investors and hedge funds have recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its position in Hafnia by 1.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 91,384 shares of the company’s stock worth $700,000 after purchasing an additional 1,650 shares in the last quarter. Amundi boosted its position in Hafnia by 5.4% in the first quarter. Amundi now owns 67,213 shares of the company’s stock valued at $511,000 after buying an additional 3,465 shares in the last quarter. Quantinno Capital Management LP boosted its position in Hafnia by 7.0% in the first quarter. Quantinno Capital Management LP now owns 55,859 shares of the company’s stock valued at $425,000 after buying an additional 3,639 shares in the last quarter. Aristides Capital LLC boosted its position in Hafnia by 12.9% in the first quarter. Aristides Capital LLC now owns 37,882 shares of the company’s stock valued at $288,000 after buying an additional 4,334 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in shares of Hafnia during the first quarter worth $48,000.

Analyst Ratings Changes

A number of brokerages have commented on HAFN. Weiss Ratings raised Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 21st. BTIG Research lifted their target price on Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Pareto Securities raised shares of Hafnia from a “hold” rating to a “buy” rating in a research report on Tuesday, September 29th. Finally, Wall Street Zen downgraded shares of Hafnia from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $12.00.

Hafnia Price Performance

Shares of HAFN stock traded down $0.07 during trading on Tuesday, hitting $10.85. The company had a trading volume of 1,835,714 shares, compared to its average volume of 1,869,657. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The firm has a market capitalization of $5.56 billion, a P/E ratio of 8.22 and a beta of 0.52. The stock’s 50-day moving average price is $8.89 and its 200 day moving average price is $8.21. Hafnia has a one year low of $5.17 and a one year high of $11.10.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Saturday, August 29th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Hafnia had a return on equity of 26.74% and a net margin of 56.72%. The firm had revenue of $834.53 million for the quarter, compared to analyst estimates of $394.57 million.

Hafnia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were issued a $0.5003 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 annualized dividend and a yield of 18.5%. This is an increase from Hafnia’s previous quarterly dividend of $0.2877. Hafnia’s payout ratio is 151.52%.

About Hafnia

Hafnia Limited is a maritime transportation company that owns and operates product tankers. The company transports refined petroleum products, vegetable oils, and other liquid bulk commodities for customers around the world.

Its fleet serves several segments of the product tanker market, including vessels used to carry cargoes over regional and long-haul routes. In addition to vessel ownership, Hafnia provides commercial management, chartering, pool management, and technical and operational services designed to support the transportation of liquid products.

Hafnia is headquartered in Singapore and operates globally, serving major energy, commodities, and industrial markets.